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Chicago & Midwest  + Greater Chicagoland  + Retail  | 
Sterling Organization Buys Chicago Grocery Store Anchored Plaza

Net Leased Grocery Trades to Overseas Buyer

The Boulder Group has completed the sale of a property net leased to Jewel Osco in Bourbonnais, IL. The 62,000-square-foot building at 655 Main St NW traded for $12.3 million.

The firm’s Randy Blankstein and Jimmy Goodman represented the seller and the buyer in the transaction. The seller was a private real estate investment company based in the Southwest. The buyer is a high net-worth investor from Australia.

The lease is guaranteed by Albertsons and has 20 years remaining. Albertsons, which operates under 20 different banners across 35 states, has a strong operating history and sales at the location.

“The market for standalone grocery properties remains active due to their built-in customer base,” said Blankstein, Boulder Group’s president. Goodman added, “Investors pay a premium for 20-year net leased assets which are in limited supply.”

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Inside The Story

Connect With Boulder Group's Blankstein and Goodman

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).